AAA: Gas Dips Below $1.90 a Gallon
Gasoline prices sank below the $1.90 per gallon mark, dropping for the 69th straight day in a national survey Tuesday.
The national average fell 2.3 cents to $1.885 per gallon of regular gasoline, according to the daily survey conducted for AAA, a motorist group. Over the last 69 days gas prices have decreased $1.97, or 51.1%.
According to AAA, it’s the lowest national average for a gallon of gas since Feb. 23, 2005, when the price was $1.889.
Prices at the pump stood 54.1% off the record-high $4.114 per gallon reached in mid-July. Prices were down $1.20 per gallon from a year ago and 81.4 cents from a month ago.
Averages have sunk below $2 a gallon in 36 states. It was cheapest in Missouri, at an average of $1.58, according to AAA.
The most expensive gas was in Alaska, at $2.866 per gallon, according to AAA.
As pump prices fall, demand for gas is beginning to recover. According to SpendingPulse by MasterCard, retailers sold 64.418 million barrels nationwide for the week ending November 21, 2008, a 1.9% increase from the previous week.
Overall, demand has fallen 1.2% from the year-ago period, the smallest year-over-year decline since April, MasterCard said.
The AAA figures, compiled by Oil Price Information Services, are state-wide averages based on credit card swipes at up to 100,000 service stations across the nation. These are state-wide averages, and individual drivers may see lower fuel prices in different areas of each state.